Electranova Capital, the energy cleantech venture capital fund managed by Idinvest Partners and strategically backed by the EDF group, along with BPI and Allianz, has invested in North American Startup FirstFuel to accelerate its European growth.
FirstFuel's Software as a Service (SaaS) platform applies advanced analytics to utility meter and business data, enabling energy providers to deliver highly personalised insights to all their business customers. The services such as energy efficiency, demand management and on-site generation at scale.
FirstFuel has established itself as the leading platform for customer intelligence in the transforming energy sector. Since its commercial launch in late 2012FirstFuel’s FirstAdvisor product alone has analyzed 40 billion kWh and identified more than USD400 million and 5 TWh in annual savings.
“The energy provider markets are facing a sea change stemming from new technology advances in distributed generation, a dynamic regulatory environment and increased competition. In the face of this complexity, a large determinant of success will be their ability to help customers navigate energy options," says Swapnil Shah, CEO, FirstFuel. "Recognising the immense value of deeper customer relationships, providers are asking us to help them understand each and every customer's energy usage and needs.”
